Details of Burlington Telecom deal emerge

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The new owner of Burlington Telecom appears to be final after City Council finally accepted a bid early Tuesday morning.
 
Mayor Miro Weinberger says he will be working with Schurz and ZRF in the coming days to get their final offer in writing.
 
The council vote finally took place close to 2:00 a.m. Tuesday this morning.

They chose the Schurz partnership over Ting and Keep BT Local.
    
Schurz offered an altered bid in the middle of last night’s meeting.
    
Under the new deal they’re offering 30.8 million dollars.
    
Schurz would be the primary owner with ZRF as a minority partner.
 
The city could own up to 20-percent with the potential to own more of Burlington Telecom.
 
Mayor Weinberger released a statement Tuesday afternoon saying, “While I was as surprised as anyone by last night’s outcome, I am relieved that after weeks of uncertainty, the City Council has finally selected a winner that does not breach prior Council-approved Burlington Telecom agreements that would have exposed the City and taxpayers to another round of lawsuits.  With last night’s vote, we are now in a position to close the book on Burlington Telecom’s decade of financial challenges and achieve long-term benefits for BT customers, taxpayers and the City.

“I again thank the Keep Burlington Telecom Local leaders and committed volunteers for their unflagging engagement, which helped shape and improve the offers that came before the Council. I want to thank Ting for showing Burlington how transparent and responsive a company it is over the last few months. Most importantly, I thank our Burlington Telecom employees, who have made BT the growing, successful business it is today, and who have handled this challenging situation with great professionalism.

“In the coming days, I will be working hard on behalf of Burlingtonians and BT employees to negotiate in writing what Todd Schurz and Faisal Nisar verbally committed to at last night’s City Council meeting. I will ensure that the final agreement includes clear provisions regarding internet affordability, customer service, net neutrality, bridging the Digital Divide, and other items that reflect our community’s values. I look forward to finishing this important job for the people of Burlington in the months ahead.”

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